Higher income from JPMorgan Chinese – JPMorgan Chinese’s board is proposing a new dividend policy to pay enhanced dividends through the distribution of capital gains as well as net revenue. Under this new policy, the board aims to set a target dividend, in the absence of unforeseen circumstances, equivalent to 4% of NAV on the last business day of the preceding financial year. The target dividend will be announced at the start of each financial year, to provide clarity to shareholders over the income stream they can expect during the following 12 months, and will be paid by way of four equal interim dividends on the first business day in March, September, June and December.
The board will ask shareholders, at the next Annual General Meeting in February 2020, to amend the Articles of Association to allow the company to distribute capital as dividends and to implement this new dividend policy.
The idea is that this will attract a wider range of investors and help narrow the discount. The investment approach and the nature of the companies that the manager buys won’t change.
The board will also propose a resolution at the AGM to change the company’s name to JPMorgan China Growth & Income Plc.
JMC : Higher income from JPMorgan Chinese